Thursday, November 19, 2015
Vedanta Ltd: Buy
The much talked about merger of Vedanta Ltd with Cairn India Ltd may happen in the next couple of months.
Vedanta already has a 59.88 per cent stake in Cairn India. State-owned insurer Life Insurance Corp (LIC), Cairn India's second-largest minority shareholder, and which together with Cairn Energy controls about 19 per cent of the Indian company, too had earlier expressed reservations about the deal.
Vedanta has already pushed back the deadline for the merger to June quarter of 2016 as against the first quarter stated previously.
Buy the shares of the company, for short term targets of Rs.97-104 and medium term target of Rs.125.